Common use of Assurance of Payment Clause in Contracts

Assurance of Payment. 7.1 Upon request by ▇▇▇▇▇, TCA shall provide to ▇▇▇▇▇ adequate assurance of payment of amounts due (or to become due) to ▇▇▇▇▇ hereunder. Assurance of payment of charges may be required by ▇▇▇▇▇ if TCA (a) in ▇▇▇▇▇’▇ reasonable judgment, at the Effective Date or at any time thereafter, is unable to demonstrate that it is creditworthy, (b) fails to timely pay a bill rendered to TCA by ▇▇▇▇▇, or (c) admits its inability to pay its debts as such debts become due, has commenced a voluntary case (or has had a case commenced against it which is not withdrawn within thirty (30) days) under the U.S. Bankruptcy Code or any other law relating to bankruptcy, insolvency, reorganization, winding-up, composition or adjustment of debts or the like, has made an assignment for the benefit of creditors or is subject to a receivership or similar proceeding. 7.2 Unless otherwise agreed by the Parties, the assurance of payment shall consist of a cash security deposit in U.S. dollars held by ▇▇▇▇▇. The cash security deposit shall be in an amount equal to two (2) months anticipated charges (including, but not limited to, both recurring and non-recurring charges), as reasonably determined by ▇▇▇▇▇, for the Services to be provided by ▇▇▇▇▇ to TCA in connection with this Agreement. 7.3 To the extent that ▇▇▇▇▇ elects to require a cash deposit, the Parties intend that the provision of such deposit shall constitute the grant of a security interest in the deposit pursuant to Article 9 of the Uniform Commercial Code as in effect in any relevant jurisdiction. 7.4 Interest will be paid on all sums held on deposit pursuant to KRS 278.460. 7.5 ▇▇▇▇▇ may (but is not obligated to) draw on the cash deposit, as applicable, upon notice to TCA in respect of any amounts to be paid by TCA hereunder that are not paid within thirty (30) days of the date that payment of such amounts is required by this Agreement. 7.6 If ▇▇▇▇▇ draws on the cash deposit, upon request by ▇▇▇▇▇, TCA shall provide a replacement or supplemental cash deposit conforming to the requirements of Section 7.2. 7.7 Notwithstanding anything else set forth in this Agreement, if ▇▇▇▇▇ makes a request for assurance of payment in accordance with the terms of this Section, and TCA has failed to comply with such request within thirty calendar days following such request, then ▇▇▇▇▇ shall have no obligation thereafter to perform under this Agreement until such time as TCA has provided ▇▇▇▇▇ with such assurance of payment. 7.8 The fact that a deposit is requested by ▇▇▇▇▇ hereunder shall in no way relieve TCA from compliance with the requirements of this Agreement as to advance payments and payment for Services, nor constitute a waiver or

Assurance of Payment. 7.1 Upon request by ▇▇▇▇▇TGT, TCA shall provide to ▇▇▇▇▇ TGT adequate assurance of payment of amounts due (or to become due) to ▇▇▇▇▇ TGT hereunder. Assurance of payment of charges may be required by ▇▇▇▇▇ TGT if TCA (a) in ▇▇▇▇▇’▇ TGT’s reasonable judgment, at the Effective Date or at any time thereafter, is unable to demonstrate that it is creditworthy, (b) fails to timely pay a bill rendered to TCA by ▇▇▇▇▇TGT, or (c) admits its inability to pay its debts as such debts become due, has commenced a voluntary case (or has had a case commenced against it which is not withdrawn within thirty (30) days) under the U.S. Bankruptcy Code or any other law relating to bankruptcy, insolvency, reorganization, winding-up, composition or adjustment of debts or the like, has made an assignment for the benefit of creditors or is subject to a receivership or similar proceeding. 7.2 Unless otherwise agreed by the Parties, the assurance of payment shall consist of a cash security deposit in U.S. dollars held by ▇▇▇▇▇TGT. The cash security deposit shall be in an amount equal to two (2) months anticipated charges (including, but not limited to, both recurring and non-recurring charges), as reasonably determined by ▇▇▇▇▇TGT, for the Services to be provided by ▇▇▇▇▇ TGT to TCA in connection with this Agreement. 7.3 To the extent that ▇▇▇▇▇ TGT elects to require a cash deposit, the Parties intend that the provision of such deposit shall constitute the grant of a security interest in the deposit pursuant to Article 9 of the Uniform Commercial Code as in effect in any relevant jurisdiction. 7.4 Interest will be paid on all sums held on deposit pursuant to KRS 278.460. 7.5 ▇▇▇▇▇ TGT may (but is not obligated to) draw on the cash deposit, as applicable, upon notice to TCA in respect of any amounts to be paid by TCA hereunder that are not paid within thirty (30) days of the date that payment of such amounts is required by this Agreement. 7.6 If ▇▇▇▇▇ TGT draws on the cash deposit, upon request by ▇▇▇▇▇TGT, TCA shall provide a replacement or supplemental cash deposit conforming to the requirements of Section 7.2. 7.7 Notwithstanding anything else set forth in this Agreement, if ▇▇▇▇▇ TGT makes a request for assurance of payment in accordance with the terms of this Section, and TCA has failed to comply with such request within thirty calendar days following such request, then ▇▇▇▇▇ TGT shall have no obligation thereafter to perform under this Agreement until such time as TCA has provided ▇▇▇▇▇ TGT with such assurance of payment. 7.8 The fact that a deposit is requested by ▇▇▇▇▇ TGT hereunder shall in no way relieve TCA from compliance with the requirements of this Agreement as to advance payments and payment for Services, nor constitute a waiver or

Assurance of Payment. 7.1 Upon request by ▇▇▇▇▇, TCA CLEC shall provide to ▇▇▇▇▇ adequate assurance of payment of amounts due (or to become due) to ▇▇▇▇▇ hereunder. Assurance of payment of charges may be required by ▇▇▇▇▇ if TCA CLEC (a) in ▇▇▇▇▇’▇ reasonable judgment, at the Effective Date or at any time thereafter, is unable to demonstrate that it is creditworthy, (b) fails to timely pay a bill rendered to TCA CLEC by ▇▇▇▇▇, or (c) admits its inability to pay its debts as such debts become due, has commenced a voluntary case (or has had a case commenced against it which is not withdrawn within thirty (30) days) under the U.S. Bankruptcy Code or any other law relating to bankruptcy, insolvency, reorganization, winding-up, composition or adjustment of debts or the like, has made an assignment for the benefit of creditors or is subject to a receivership or similar proceeding. 7.2 Unless otherwise agreed by the Parties, the assurance of payment shall consist of a cash security deposit in U.S. dollars held by ▇▇▇▇▇, an unconditional, irrevocable standby letter of credit, surety bond or performance bond. The cash security deposit shall be in an amount equal to two (2) months anticipated charges (including, but not limited to, both recurring and non-recurring charges), as reasonably determined by ▇▇▇▇▇, for the Services to be provided by ▇▇▇▇▇ to TCA CLEC in connection with this Agreement. 7.3 To the extent that ▇▇▇▇▇ elects to require a cash deposit, the Parties intend that the provision of such deposit shall constitute the grant of a security interest in the deposit pursuant to Article 9 of the Uniform Commercial Code as in effect in any relevant jurisdiction. 7.4 Interest will be paid on all sums held on deposit pursuant to KRS 278.460. 7.5 ▇▇▇▇▇ may (but is not obligated to) draw on the cash deposit, as applicable, upon notice to TCA CLEC in respect of any amounts to be paid by TCA CLEC hereunder that are not paid within thirty (30) days of the date that payment of such amounts is required by this Agreement. 7.6 If ▇▇▇▇▇ draws on the cash deposit, upon request by ▇▇▇▇▇, TCA CLEC shall provide a replacement or supplemental cash deposit conforming to the requirements of Section 7.2. 7.7 Notwithstanding anything else set forth in this Agreement, if ▇▇▇▇▇ makes a request for assurance of payment in accordance with the terms of this Section, and TCA CLEC has failed to comply with such request within thirty (30) calendar days following such request, then ▇▇▇▇▇ shall have no obligation thereafter to perform under this Agreement until such time as TCA CLEC has provided ▇▇▇▇▇ with such assurance of payment. 7.8 The fact that a deposit is requested by ▇▇▇▇▇ hereunder shall in no way relieve TCA CLEC from compliance with the requirements of this Agreement as to advance payments and payment for Services, nor constitute a waiver oror modification of the terms herein pertaining to the discontinuance of Services for nonpayment of any amounts payment of which is required by this Agreement.

Assurance of Payment. 7.1 Upon request by ▇▇▇▇▇FRTC, TCA shall provide to ▇▇▇▇▇ FRTC adequate assurance of payment of amounts due (or to become due) to ▇▇▇▇▇ FRTC hereunder. Assurance of payment of charges may be required by ▇▇▇▇▇ FRTC if TCA (a) in ▇▇▇▇▇’▇ FRTC’s reasonable judgment, at the Effective Date or at any time thereafter, is unable to demonstrate that it is creditworthy, (b) fails to timely pay a bill rendered to TCA by ▇▇▇▇▇FRTC, or (c) admits its inability to pay its debts as such debts become due, has commenced a voluntary case (or has had a case commenced against it which is not withdrawn within thirty (30) days) under the U.S. Bankruptcy Code or any other law relating to bankruptcy, insolvency, reorganization, winding-up, composition or adjustment of debts or the like, has made an assignment for the benefit of creditors or is subject to a receivership or similar proceeding. 7.2 Unless otherwise agreed by the Parties, the assurance of payment shall consist of a cash security deposit in U.S. dollars held by ▇▇▇▇▇FRTC. The cash security deposit shall be in an amount equal to two (2) months anticipated charges (including, but not limited to, both recurring and non-recurring charges), as reasonably determined by ▇▇▇▇▇FRTC, for the Services to be provided by ▇▇▇▇▇ FRTC to TCA in connection with this Agreement. 7.3 To the extent that ▇▇▇▇▇ FRTC elects to require a cash deposit, the Parties intend that the provision of such deposit shall constitute the grant of a security interest in the deposit pursuant to Article 9 of the Uniform Commercial Code as in effect in any relevant jurisdiction. 7.4 Interest will be paid on all sums held on deposit pursuant to KRS 278.460. 7.5 ▇▇▇▇▇ FRTC may (but is not obligated to) draw on the cash deposit, as applicable, upon notice to TCA in respect of any amounts to be paid by TCA hereunder that are not paid within thirty (30) days of the date that payment of such amounts is required by this Agreement. 7.6 If ▇▇▇▇▇ FRTC draws on the cash deposit, upon request by ▇▇▇▇▇FRTC, TCA shall provide a replacement or supplemental cash deposit conforming to the requirements of Section 7.2. 7.7 Notwithstanding anything else set forth in this Agreement, if ▇▇▇▇▇ FRTC makes a request for assurance of payment in accordance with the terms of this Section, and TCA has failed to comply with such request within thirty calendar days following such request, then ▇▇▇▇▇ FRTC shall have no obligation thereafter to perform under this Agreement until such time as TCA has provided ▇▇▇▇▇ FRTC with such assurance of payment. 7.8 The fact that a deposit is requested by ▇▇▇▇▇ FRTC hereunder shall in no way relieve TCA from compliance with the requirements of this Agreement as to advance payments and payment for Services, nor constitute a waiver or

Assurance of Payment. 7.1 Upon request by ▇▇▇▇▇CTC, TCA shall provide to ▇▇▇▇▇ CTC adequate assurance of payment of amounts due (or to become due) to ▇▇▇▇▇ CTC hereunder. Assurance of payment of charges may be required by ▇▇▇▇▇ CTC if TCA (a) in ▇▇▇▇▇’▇ CTC’s reasonable judgment, at the Effective Date or at any time thereafter, is unable to demonstrate that it is creditworthy, (b) fails to timely pay a bill rendered to TCA by ▇▇▇▇▇CTC, or (c) admits its inability to pay its debts as such debts become due, has commenced a voluntary case (or has had a case commenced against it which is not withdrawn within thirty (30) days) under the U.S. Bankruptcy Code or any other law relating to bankruptcy, insolvency, reorganization, winding-up, composition or adjustment of debts or the like, has made an assignment for the benefit of creditors or is subject to a receivership or similar proceeding. 7.2 Unless otherwise agreed by the Parties, the assurance of payment shall consist of a cash security deposit in U.S. dollars held by ▇▇▇▇▇CTC. The cash security deposit shall be in an amount equal to two (2) months anticipated charges (including, but not limited to, both recurring and non-recurring charges), as reasonably determined by ▇▇▇▇▇CTC, for the Services to be provided by ▇▇▇▇▇ CTC to TCA in connection with this Agreement. 7.3 To the extent that ▇▇▇▇▇ CTC elects to require a cash deposit, the Parties intend that the provision of such deposit shall constitute the grant of a security interest in the deposit pursuant to Article 9 of the Uniform Commercial Code as in effect in any relevant jurisdiction. 7.4 Interest will be paid on all sums held on deposit pursuant to KRS 278.460. 7.5 ▇▇▇▇▇ CTC may (but is not obligated to) draw on the cash deposit, as applicable, upon notice to TCA in respect of any amounts to be paid by TCA hereunder that are not paid within thirty (30) days of the date that payment of such amounts is required by this Agreement. 7.6 If ▇▇▇▇▇ CTC draws on the cash deposit, upon request by ▇▇▇▇▇CTC, TCA shall provide a replacement or supplemental cash deposit conforming to the requirements of Section 7.2. 7.7 Notwithstanding anything else set forth in this Agreement, if ▇▇▇▇▇ CTC makes a request for assurance of payment in accordance with the terms of this Section, and TCA has failed to comply with such request within thirty calendar days following such request, then ▇▇▇▇▇ CTC shall have no obligation thereafter to perform under this Agreement until such time as TCA has provided ▇▇▇▇▇ CTC with such assurance of payment. 7.8 The fact that a deposit is requested by ▇▇▇▇▇ CTC hereunder shall in no way relieve TCA from compliance with the requirements of this Agreement as to advance payments and payment for Services, nor constitute a waiver or

Assurance of Payment. 7.1 Upon request by ▇▇▇▇▇PRTC, TCA shall provide to ▇▇▇▇▇ PRTC adequate assurance of payment of amounts due (or to become due) to ▇▇▇▇▇ PRTC hereunder. Assurance of payment of charges may be required by ▇▇▇▇▇ PRTC if TCA (a) in ▇▇▇▇▇’▇ PRTC’s reasonable judgment, at the Effective Date or at any time thereafter, is unable to demonstrate that it is creditworthy, (b) fails to timely pay a bill rendered to TCA by ▇▇▇▇▇PRTC, or (c) admits its inability to pay its debts as such debts become due, has commenced a voluntary case (or has had a case commenced against it which is not withdrawn within thirty (30) days) under the U.S. Bankruptcy Code or any other law relating to bankruptcy, insolvency, reorganization, winding-up, composition or adjustment of debts or the like, has made an assignment for the benefit of creditors or is subject to a receivership or similar proceeding. 7.2 Unless otherwise agreed by the Parties, the assurance of payment shall consist of a cash security deposit in U.S. dollars held by ▇▇▇▇▇PRTC. The cash security deposit shall be in an amount equal to two (2) months anticipated charges (including, but not limited to, both recurring and non-recurring charges), as reasonably determined by ▇▇▇▇▇PRTC, for the Services to be provided by ▇▇▇▇▇ PRTC to TCA in connection with this Agreement. 7.3 To the extent that ▇▇▇▇▇ PRTC elects to require a cash deposit, the Parties intend that the provision of such deposit shall constitute the grant of a security interest in the deposit pursuant to Article 9 of the Uniform Commercial Code as in effect in any relevant jurisdiction. 7.4 Interest will be paid on all sums held on deposit pursuant to KRS 278.460. 7.5 ▇▇▇▇▇ PRTC may (but is not obligated to) draw on the cash deposit, as applicable, upon notice to TCA in respect of any amounts to be paid by TCA hereunder that are not paid within thirty (30) days of the date that payment of such amounts is required by this Agreement. 7.6 If ▇▇▇▇▇ PRTC draws on the cash deposit, upon request by ▇▇▇▇▇PRTC, TCA shall provide a replacement or supplemental cash deposit conforming to the requirements of Section 7.2. 7.7 Notwithstanding anything else set forth in this Agreement, if ▇▇▇▇▇ PRTC makes a request for assurance of payment in accordance with the terms of this Section, and TCA has failed to comply with such request within thirty calendar days following such request, then ▇▇▇▇▇ PRTC shall have no obligation thereafter to perform under this Agreement until such time as TCA has provided ▇▇▇▇▇ PRTC with such assurance of payment. 7.8 The fact that a deposit is requested by ▇▇▇▇▇ PRTC hereunder shall in no way relieve TCA from compliance with the requirements of this Agreement as to advance payments and payment for Services, nor constitute a waiver or

Assurance of Payment. 7.1 Upon request by ▇▇▇▇▇MRTC, TCA shall provide to ▇▇▇▇▇ MRTC adequate assurance of payment of amounts due (or to become due) to ▇▇▇▇▇ MRTC hereunder. Assurance of payment of charges may be required by ▇▇▇▇▇ MRTC if TCA (a) in ▇▇▇▇▇’▇ MRTC’s reasonable judgment, at the Effective Date or at any time thereafter, is unable to demonstrate that it is creditworthy, (b) fails to timely pay a bill rendered to TCA by ▇▇▇▇▇MRTC, or (c) admits its inability to pay its debts as such debts become due, has commenced a voluntary case (or has had a case commenced against it which is not withdrawn within thirty (30) days) under the U.S. Bankruptcy Code or any other law relating to bankruptcy, insolvency, reorganization, winding-up, composition or adjustment of debts or the like, has made an assignment for the benefit of creditors or is subject to a receivership or similar proceeding. 7.2 Unless otherwise agreed by the Parties, the assurance of payment shall consist of a cash security deposit in U.S. dollars held by ▇▇▇▇▇MRTC. The cash security deposit shall be in an amount equal to two (2) months anticipated charges (including, but not limited to, both recurring and non-recurring charges), as reasonably determined by ▇▇▇▇▇MRTC, for the Services to be provided by ▇▇▇▇▇ MRTC to TCA in connection with this Agreement. 7.3 To the extent that ▇▇▇▇▇ MRTC elects to require a cash deposit, the Parties intend that the provision of such deposit shall constitute the grant of a security interest in the deposit pursuant to Article 9 of the Uniform Commercial Code as in effect in any relevant jurisdiction. 7.4 Interest will be paid on all sums held on deposit pursuant to KRS 278.460. 7.5 ▇▇▇▇▇ MRTC may (but is not obligated to) draw on the cash deposit, as applicable, upon notice to TCA in respect of any amounts to be paid by TCA hereunder that are not paid within thirty (30) days of the date that payment of such amounts is required by this Agreement. 7.6 If ▇▇▇▇▇ MRTC draws on the cash deposit, upon request by ▇▇▇▇▇MRTC, TCA shall provide a replacement or supplemental cash deposit conforming to the requirements of Section 7.2. 7.7 Notwithstanding anything else set forth in this Agreement, if ▇▇▇▇▇ MRTC makes a request for assurance of payment in accordance with the terms of this Section, and TCA has failed to comply with such request within thirty calendar days following such request, then ▇▇▇▇▇ MRTC shall have no obligation thereafter to perform under this Agreement until such time as TCA has provided ▇▇▇▇▇ MRTC with such assurance of payment. 7.8 The fact that a deposit is requested by ▇▇▇▇▇ MRTC hereunder shall in no way relieve TCA from compliance with the requirements of this Agreement as to advance payments and payment for Services, nor constitute a waiver or